Sakthi Sugars financials and balance sheet

NSE: SAKHTISUGBSE: 507315Agricultural Food & other ProductsSmall Cap

₹16.76₹0.26 (1.53%)BSE ₹16.64

Share price at the NSE close on 23 Oct 2026. Previous close ₹17.02.

52-week range of traded prices to 23 Oct 2026

₹13.52Low, 23 Mar 2026₹23.29High, 24 Aug 2026

Market cap: ₹199 Cr2,389th largest listed
P/E: 7.3
P/B: 0.9
Dividend yield: Nonein the last 12 months
ROE: 12.8%
ROCE: 5.0%
Debt to equity: 3.15
Volume, NSE: 1,24,27156.3% delivered

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Sakthi Sugars annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in 5 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 5.6% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2023, the company reports a discontinued business. From the year to Mar 2024, the company's revenue for that year, ₹1,069 Cr, differs from its quarters added, ₹1,057 Cr.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

Revenue899
Materials and goods−531
Employee costs−64
Other expenses−216
Operating profit88
Depreciation−38
Other income+86
One-off items0.0
Finance costs−98
Profit before tax38
Tax−10.0
Net profit28

What the company owns

Plant, investments and other assets₹1,309 Cr
Inventory₹121 Cr
Cash and bank₹6 Cr
Receivables₹2 Cr

What pays for it: net worth and liabilities

Borrowings₹720 Cr
Other liabilities₹380 Cr
Net worth₹228 Cr
Owed to suppliers₹110 Cr

Sakthi Sugars business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Sakthi Sugars segment results by quarter

Revenue by segment

₹1,170 CrTotal

Sugar₹751 Cr64.1% of total
Power₹245 Cr20.9% of total
Industrial Alcohol₹175 Cr15.0% of total

Profit by segment

Power₹106 Cr80.0% of total
Industrial Alcohol₹26 Cr20.0% of total

Segment results by year

Standalone, ₹ crore, years to March.

Sugar
Revenue, ₹ crore
308
559
385
492
1,076
1,018
776
751
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−69
−140
−54
−41
40
−27
1
−32
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Power
Revenue, ₹ crore
57
95
66
113
349
305
224
245
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−33
−10
−10
−10
18
33
32
106
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Industrial Alcohol
Revenue, ₹ crore
85
131
95
110
143
182
169
175
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−9
33
32
24
7
37
32
26
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Assets clasified as held for sale
Revenue, ₹ crore
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	587	944	737	959	1,568	1,662	1,204	1,170
Company revenue, as in its results	505	803	633	788	1,054	1,069	929	899
Revenue	308	559	385	492	1,076	1,018	776	751
Revenue growth	–	81.4%	−31.1%	27.8%	118.6%	−5.3%	−23.8%	−3.3%
Profit	−69	−140	−54	−41	40	−27	1	−32
Margin	−22.3%	−25.1%	−14.0%	−8.4%	3.8%	−2.7%	0.2%	−4.3%
Return on capital	−10.2%	−23.5%	−8.6%	−5.2%	7.5%	−4.2%	0.2%	−7.1%
Assets	1,287	1,240	1,224	1,248	844	853	806	606
Liabilities	617	644	596	450	307	207	145	154
Capital employed	670	596	628	798	536	646	662	452
Revenue	57	95	66	113	349	305	224	245
Revenue growth	–	68.0%	−30.5%	70.4%	210.3%	−12.9%	−26.5%	9.2%
Profit	−33	−10	−10	−10	18	33	32	106
Profit growth	–	–	–	–	–	82.6%	−4.6%	233.9%
Margin	−58.6%	−10.5%	−14.9%	−9.0%	5.2%	10.9%	14.1%	43.2%
Return on capital	−16.9%	−5.2%	−5.5%	−6.2%	11.7%	22.7%	17.1%	40.5%
Assets	313	304	296	289	288	282	300	377
Liabilities	117	111	118	125	133	136	115	116
Capital employed	196	193	178	164	155	146	185	261
Revenue	85	131	95	110	143	182	169	175
Revenue growth	–	53.4%	−27.2%	16.0%	29.3%	27.5%	−7.0%	3.4%
Profit	−9	33	32	24	7	37	32	26
Profit growth	–	–	−3.3%	−25.0%	−68.6%	387.3%	−12.8%	−17.3%
Margin	−10.5%	25.2%	33.4%	21.6%	5.3%	20.1%	18.8%	15.1%
Return on capital	−8.2%	35.0%	33.5%	30.2%	13.6%	72.0%	74.8%	47.0%
Assets	113	114	113	101	76	74	75	75
Liabilities	5	20	17	22	21	24	32	19
Capital employed	108	94	95	79	55	51	43	56
	–	–	–	–	–	0	0	0
Profit	–	–	–	–	–	0	0	0
Return on capital	–	–	–	–	–	0.0%	0.0%	0.0%
Assets	–	–	–	–	–	129	125	125
Liabilities	–	–	–	–	–	0	0	0
Capital employed	–	–	–	–	–	129	125	125
Revenue	138	160	191	244	–	16	35	–
Revenue growth	–	15.9%	19.5%	28.1%	–	–	–	–
Profit	9	6	14	33	–	2	2	–
Profit growth	–	−35.8%	133.9%	144.5%	–	–	–	–
Margin	6.5%	3.6%	7.1%	13.5%	–	10.7%	5.4%	–
Return on capital	8.5%	5.8%	14.2%	26.5%	–	4.9%	1,330.2%	–
Assets	127	124	140	138	–	34	4	–
Liabilities	21	25	45	13	–	0	4	–
Capital employed	106	99	95	125	–	34	0	–
Revenue	–	–	–	–	–	142	0	–
Revenue growth	–	–	–	–	–	–	−100.0%	–
Profit	–	–	–	–	–	8	0	–
Profit growth	–	–	–	–	–	–	−100.0%	–
Margin	–	–	–	–	–	5.4%	–	–
Assets	–	–	–	–	–	0	0	–
Liabilities	–	–	–	–	–	0	0	–
Capital employed	–	–	–	–	–	0	0	–
	0	0	–	–	–	–	–	–
Profit	0	0	–	–	–	–	–	–
Assets	40	51	–	–	–	–	–	–
Liabilities	1,087	1,193	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Standalone, ₹ crore, years to March.Sakthi Sugars quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 5 Aug	Mar 2021Filed 7 Jul	Mar 2022Filed 3 Jun	Mar 2023Filed 30 May	Mar 2024Filed 1 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
Revenue from operations	927	530	505	803	633	788	1,054	1,069	929	899
	801	569	561	881	623	735	963	995	842	811
Materials and goods bought	618	415	363	596	448	512	654	698	554	531
Employee costs	68	–	59	62	58	59	46	62	58	64
Other expenses	115	–	140	223	117	164	263	235	230	216
Operating profit before depreciation	126	−38	−56	−78	10	53	90	74	86	88
Operating margin	13.6%	−7.2%	−11.0%	−9.7%	1.6%	6.7%	8.6%	6.9%	9.3%	9.8%
Materials, % of revenue	66.6%	–	71.8%	74.2%	70.7%	65.0%	62.1%	65.3%	59.7%	59.0%
Employee costs, % of revenue	7.4%	–	11.6%	7.7%	9.2%	7.5%	4.3%	5.8%	6.3%	7.1%
Other expenses, % of revenue	12.4%	–	27.7%	27.8%	18.5%	20.8%	25.0%	22.0%	24.8%	24.1%
Depreciation and amortisation	90	53	52	49	39	55	37	37	37	38
Operating profit after depreciation	36	−91	−107	−127	−29	−2	53	37	49	50
Other income	12	11	152	121	10	17	15	13	61	86
Finance costs	134	150	260	202	196	234	108	109	105	98
Profit before one-off items and tax	−85	−230	−215	−208	−215	−219	−40	−59	5	38
One-off items	102	−22	−52	0	112	69	411	225	42	0
Profit before tax	16	−252	−267	−208	−104	−150	370	166	47	38
	6	−75	−53	−2	13	0	−2	44	−33	10
Current tax	6	–	0	0	0	0	0	0	0	0
Deferred tax	0	–	−53	−2	13	0	−2	44	−33	10
Profit from discontinued businesses	–	–	–	–	–	–	45	8	–	–
Net profit	10	−177	−214	−206	−116	−150	418	129	80	28
Other comprehensive income	–	–	1	0	−1	0	−1	−1	1	1
Total comprehensive income	–	–	−213	−206	−117	−150	417	129	81	30
Net margin	1.1%	−33.4%	−42.4%	−25.6%	−18.4%	−19.1%	–	12.1%	8.6%	3.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Net margin is left blank for the year to Mar 2023: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Earlier years, Dec 2008 to Mar 2016

₹ crore	Dec 200818 months	Dec 2009	Mar 201115 months	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Revenue from operations	1,172	1,375	2,138	1,103	1,170	707	837	821
	1,008	1,198	2,046	975	1,088	692	725	780
Materials and goods bought	565	1,040	1,604	785	890	532	498	534
Employee costs	–	–	–	55	60	59	62	–
Other expenses	–	–	–	134	138	101	165	–
Operating profit before depreciation	165	177	92	128	82	15	111	41
Operating margin	14.0%	12.9%	4.3%	11.6%	7.0%	2.1%	13.3%	5.0%
Materials, % of revenue	–	–	–	71.2%	76.1%	75.3%	59.5%	–
Employee costs, % of revenue	–	–	–	5.0%	5.1%	8.4%	7.4%	–
Other expenses, % of revenue	–	–	–	12.2%	11.8%	14.2%	19.8%	–
Depreciation and amortisation	43	30	39	65	66	66	64	74
Operating profit after depreciation	122	147	53	63	16	−52	48	−33
Other income	7	26	8	5	3	3	32	37
Finance costs	159	46	182	121	137	186	129	78
Profit before one-off items and tax	−31	126	−120	−54	−117	−234	−49	−75
One-off items	−57	−2	−8	–	–	–	–	–
Profit before tax	−87	125	−128	−54	−117	−234	−49	−75
Tax	–	21	–	−6	−30	−75	−15	−20
Net profit	−80	103	−100	−48	−87	−159	−35	−55
Net margin	−6.8%	7.5%	−4.7%	−4.3%	−7.5%	−22.5%	−4.2%	−6.7%

Standalone, ₹ crore, years to December, then March.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 4 Jun	Mar 2020Filed 5 Aug	Mar 2021Filed 7 Jul	Mar 2022Filed 3 Jun	Mar 2023Filed 30 May	Mar 2024Filed 1 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
	258	−161	−278	−428	−11	118	199	228
Share capital	119	119	119	119	119	119	119	119
Reserves	140	−279	−397	−547	−130	−1	80	109
	570	228	316	938	851	773	783	720
Repayable after a year	455	93	94	376	504	674	672	619
Repayable within a year	115	135	222	563	348	98	112	100
	1,076	1,870	1,898	1,831	1,141	695	636	555
Trade payables	2	276	5	107	107	132	81	110
Other financial liabilities	248	1,329	215	274	411	231	208	138
Other liabilities	643	126	97	882	272	229	232	204
Provisions	61	5	5	5	4	5	4	2
Tax owed	6	0	1,354	–	0	0	0	0
	525	123	193	410	522	735	696	655
Other financial liabilities	3	3	2	1	17	2	1	0
Other liabilities	0	0	69	–	0	0	0	–
Provisions	25	26	27	26	0	17	14	15
Deferred tax	42	0	0	6	0	42	9	19
Trade payables	0	0	0	–	1	0	0	0
Liabilities going with businesses held for sale	–	–	–	–	15	–	–	–
	1,859	1,832	1,812	1,812	1,668	1,548	1,531	1,438
Held for sale or for a demerger	207	380	379	312	269	129	125	125
	1,353	1,066	1,018	1,034	1,042	1,008	1,028	1,048
Plant in use, after depreciation	1,239	993	956	974	793	767	767	748
Plant being built	32	0	1	1	34	32	32	33
Intangible assets	0	0	1	0	0	0	0	0
Property held to earn rent	–	1	0	–	0	0	0	0
Investments	11	17	20	17	170	165	213	246
Loans given	7	1	1	1	1	1	1	1
Other financial assets	64	8	7	8	8	8	6	10
Deferred tax	–	12	0	–	2	0	0	0
Trade receivables	1	0	0	0	0	0	0	0
Other assets	–	34	33	34	34	34	11	11
	299	387	415	466	357	411	378	265
Inventories	108	68	80	114	55	75	58	121
Trade receivables	69	10	13	12	8	7	16	2
Cash and cash equivalents	15	9	4	17	5	6	5	6
Other bank balances	1	0	0	1	0	0	0	0
Current investments	8	0	0	0	0	0	0	0
Loans given	23	248	248	248	249	281	249	2
Other financial assets	27	8	9	2	1	2	2	83
Tax paid in advance	3	4	4	5	5	7	6	6
Other assets	45	40	56	68	33	33	41	45
Net debt	547	219	312	921	846	766	777	714

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ crore	Mar 2021Filed 7 Jul	Mar 2022Filed 3 Jun	Mar 2023Filed 30 May	Mar 2024Filed 1 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
	31	37	107	114	41	−4
	33	45	110	116	45	−1
	16	−23	5	37	−60	−141
Receivables	−3	−1	−2	1	−17	14
Inventories	−13	−34	2	37	17	−63
Payables	11	−91	10	16	−51	28
Other working capital	22	103	−5	−18	−9	−120
Tax paid	0	0	−1	−1	1	0
Capital spending	2	6	19	13	15	19
Free cash flow	29	30	88	101	26	−23
	0	9	121	51	23	−17
Plant and property sold	1	0	138	82	1	1
Interest received	1	1	2	1	5	2
Dividends received	0	7	0	0	0	0
	−37	−32	−238	−165	−64	21
Borrowings raised	0	260	207	143	94	163
Borrowings repaid	−10	−257	−339	−266	−87	−72
Interest paid	−26	−34	−107	−42	−71	−70
Lease payments	−1	−1	1	0	0	0
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	−5	13	−11	0	−1	0

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Standalone, ₹ per share, years to March.Sakthi Sugars dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 5 Aug	Mar 2021Filed 7 Jul	Mar 2022Filed 3 Jun	Mar 2023Filed 30 May	Mar 2024Filed 1 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
Earnings per share	₹0.92	−₹14.89	−₹17.94	−₹17.31	−₹9.86	−₹12.63	₹35.16	₹10.90	₹6.73	₹2.37
Diluted earnings per share	₹0.92	−₹14.89	−₹17.94	−₹17.31	−₹9.86	−₹12.63	₹35.16	₹10.90	₹6.73	₹2.37
Book value per share	–	–	₹21.74	−₹13.51	−₹23.37	−₹36.02	−₹0.91	₹9.92	₹16.71	₹19.20
Shareholder yield	–	–	–	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	393	193	134	87	112	160	237	354	244	169

Ratios

Standalone, years to March.Sakthi Sugars PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 5 Aug	Mar 2021Filed 7 Jul	Mar 2022Filed 3 Jun	Mar 2023Filed 30 May	Mar 2024Filed 1 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 25 May
Revenue growth	12.9%	−42.8%	−4.7%	59.0%	−21.1%	24.4%	–	–	−13.2%	−3.2%
Operating profit growth	206.8%	–	–	–	–	433.6%	–	–	16.8%	2.0%
Net profit growth	–	–	–	–	–	–	–	−69.0%	−38.2%	−64.8%
Earnings per share growth	–	–	–	–	–	–	–	−69.0%	−38.3%	−64.8%
	–	–	–	–	–	–	–	–	50.5%	13.2%
	–	–	–	–	–	–	–	–	–	−37.3 pts
From the net margin	–	–	–	–	–	–	–	–	–	−32.2 pts
From asset turnover	–	–	–	–	–	–	–	–	–	0.1 pts
From borrowing	–	–	–	–	–	–	–	–	–	−5.3 pts
Return on capital employed	–	–	–	–	–	–	–	4.1%	5.0%	5.3%
Cash conversion	–	–	–	–	–	–	25.5%	87.9%	50.7%	−12.5%
Interest cover	0.3	–	–	–	–	–	0.5	0.3	0.5	0.5
Debt to equity	–	–	–	–	–	–	–	6.55	3.94	3.15
Receivable days	–	–	–	–	–	–	–	2	6	1
Inventory days	–	–	–	–	–	–	–	39	38	83
Payable days	–	–	–	–	–	–	–	69	54	76
Cash conversion cycle, days	–	–	–	–	–	–	–	−27	−9	9
Working capital days	–	–	–	–	–	–	–	−65	−60	−80
Asset turnover	–	–	–	–	–	–	–	–	0.60	0.61
Assets per rupee of net worth	–	–	–	–	–	–	–	–	9.72	6.95
Sales per rupee of plant	–	–	0.41	0.81	0.66	0.81	1.33	1.39	1.21	1.20
Capital spending to depreciation	–	–	–	–	0.06	0.11	0.51	0.34	0.40	0.51
Plant being built, % of plant in use	–	–	2.6%	0.0%	0.1%	0.1%	4.2%	4.2%	4.2%	4.4%

Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021 and Mar 2022: operating profit after depreciation is a loss, and a loss covers no interest bill. Return on equity, asset turnover and assets per rupee of net worth are left blank for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023 and Mar 2024: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Change in return on equity, from the net margin, from asset turnover and from borrowing are left blank for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023, Mar 2024 and Mar 2025: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Debt to equity, receivable days, inventory days, payable days, cash conversion cycle, days, return on capital employed and working capital days are left blank for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2022 and Mar 2023: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Revenue growth and operating profit growth are left blank for the year to Mar 2023: between the two periods the company began reporting a business as discontinued, so the two are on different bases and the change is not worked out. Revenue growth and operating profit growth are left blank for the year to Mar 2024: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year: 1.9%
Cash from operations against operating profit: −4.0%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	0.9%	7.3%	−5.2%
Profit growth, yearly rate	–	–	−59.3%
Return on equity, average	–	–	31.9%
Return on capital employed, average	–	–	4.8%
Operating margin, average	2.8%	8.3%	8.7%
Net margin, average	−12.7%	1.2%	8.0%
Asset turnover, average	–	–	0.60
Cash conversion cycle, days, average	–	–	−9
Interest cover, average	–	0.5	0.4
Debt to equity, average	–	–	4.55

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	294	151	−4
Cash from investing	187	57	−17
Cash from financing	−479	−209	21
Capital spending	71	47	19
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	867	400	163
Borrowings repaid	1,020	425	72

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	6	6	7	5	5	4
Altman Z-scorePublished threshold 1.81	–	–	−0.09	−0.73	−0.74	−0.70	0.99	1.21	0.91	0.89
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.43	−3.24	−1.85	−2.56	−1.13	−3.16
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−8.11	−10.78	10.94	−2.19	1.04	3.26
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.15	0.65	0.42	0.64
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−144.70	56.32	−31.38	−70.86	−10.20	140.22	−83.18
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−102.03	43.46	27.70	−79.29	29.31	−2.16	113.02
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−2.83	2.78	0.63	−3.32	0.20	0.77	9.39
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.25	0.01	–	3.03	0.87	1.74
Effective tax ratePublished threshold 17.16 per cent	36.51	–	–	–	–	–	−0.61	26.72	−70.36	26.18
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	−0.88	26.05	−72.59	25.98

A threshold marked as ours has no published figure; it is the line we read the check against.